The Daily Telegraph

Meme stock Bed Bath & Beyond fights to stay afloat


US home goods retailer and “meme stock” Bed Bath & Beyond plans to raise about $1bn (£830m) from investors in a final attempt to avoid bankruptcy.

It hopes to generate additional funds to cover overdue debt payments and loan defaults by selling shares and warrants to institutio­nal investors.

It would “likely file for bankruptcy protection” unless the offering is completed, the company revealed in a securities filing on Monday.

Bed Bath & Beyond was among the so-called “meme stocks” targeted by online trading forums which saw share prices surge in 2021.

However, Bed Bath & Beyond has struggled amid drasticall­y falling cash piles and revenue since lenders last month declared it to be in default.

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